Best Buy Store Card converting to Visa... 06/2016... ???

[Anonymous]

Hello All!!

This is my first post to the forums, but I have been lurking around for over a year now. I have decided to create a profile and post this message since I can't seem to find any supporting information aywhere.

Over the weekend, I contacted Best Buy about my store card I have with them. I was mostly inquiring about why I had a store card when I saw that there was a Visa option on the website. I have had the card since I was 20 and it was actually my 2nd "credit card", but like most college students I did not even know I was applying for a credit card until it was approved, I thought it was just going to be an installment plan of some sort. I dont care that I didnt know because I've used the card several times after getting it, I was more upset that I was not told there were 2 card types. From what I was told the application gets submitted for a generic credit product and then approves one or the other based on credit worthiness (how I personally think all cards with network and rewards tiers should be now). So it makes sense that I got a store card becuase I was 20 years old, with one credit card open and a low to mid 600 FICO.

Here is where it gets interesting. The chat represntative told me not to worry because all eligible store card would be getting upgraded to Visa cards in June.

I didnt really believe him, I thought he was trying to get me to end the chat early. I asked for more details or literature on the conversion and he directed me to call a number he provided to me. So, I call that number and after a 5-10 minute phone call, the young lady I spoke with told me the same thing. But that there wasn't any info, material, or emails that could be sent out about it. So I'm a little skepical becuase I figured something this big would have leaked on some forum, blog or credit based website by now. I couldn't even find info about it on here, hence my post.

Does anyone else know about this or have any info they can share?!?

This could be a huge game changer for me becuase of the whole AmEx/Visa Costco issue. I only have an AmEx charge, AmEx credit and CapitalOne MC cards , and if this Best Buy card converts to Visa I will not have to apply for a new card and will actually be able to use my Best Buy card more than once every 12 months lol

[creditguy]

Key word in your conversation is "Eligible". What constitutes an eligible card?

[Anonymous]

From what I was told during the phone conversation, "Any store card is eligible and will be upgraded automatically in June, unless a cardholder calls in and opts out of being upgraded; cards will mail out early June and will get delivered between June and August".

[Anonymous]

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@Anonymous wrote:

From what I was told during the phone conversation, "Any store card is eligible and will be upgraded automatically in June, unless a cardholder calls in and opts out of being upgraded; cards will mail out early June and will get delivered between June and August".

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The thing with that statement is that it really tells you nothing.  They haven't told you what comprises eligiblity and therefore negates the value of their claim.  You still don't know whether you'll be upgraded and frankly neither do we.  If they're unwilling to tell you that you're account is slated or not that usually means they don't know.  Often times customer service is the last to know on everything.

[creditguy]

Sounds odd that they are upgrading all cards but you can opt out to keep just the store card, but stranger things have happened. Well I guess if true your getting a visa sometime between June and August.

[creditguy]

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@Anonymous wrote:

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@Anonymous wrote:

From what I was told during the phone conversation, "Any store card is eligible and will be upgraded automatically in June, unless a cardholder calls in and opts out of being upgraded; cards will mail out early June and will get delivered between June and August".

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The thing with that statement is that it really tells you nothing.  They haven't told you what comprises eligiblity and therefore negates the value of their claim.  You still don't know whether you'll be upgraded and frankly neither do we.  If they're unwilling to tell you that you're account is slated or not that usually means they don't know.  Often times customer service is the last to know on everything.

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True, plus it's not like we've ever heard of a customer service rep who didn't know what they were talking about right? The proof is in the pudding or in this case the mailbox, if sometime between June and August you find a Visa in the mailbox then you were eligible. 

[Anonymous]

They would not need to use the qualifier "eligible" if all cards were indeed eligible.

[Anonymous]

They would not need to use the qualifier "eligible" if all cards were indeed eligible.

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That is pretty much where they left it with me. The only shed of hope I got was the fact that the rep I spoke with knew exactly what I was talking about when I called in. And she was able to give me some more information about it compared to the chat rep. I immediately assumed that the chat rep was trying to pull a fast one on me which is why I called in the next day. I just figured by now another cardholder got the same info or that it had been made semi public so some info would slip through the cracks online.

The only hypothesis I could form is that CitiBank is trying to get as many Visa branded products out with Costco switching to Visa supported through Citi. They could get a heavy influx of volume by making Best Buy cards a product that can be accepted at Costco since the cards are already housed through Citi (both Store Card and Visa Card).

[jeffery581]

Got my new BB card and it was a visa with a chip last week. It was due to expire so I do not know if that helps or not.

[Anonymous]

Was it a store card prior to the replacement or has it always been Visa branded?